Nigeria’s Bandits Abducted 3,420, Demanded N6.5bn Ransom In One Year

At least 3,420 people were abducted across Nigeria between July 2021 and June this year, a report revealed on Saturday.

The report titled: “The Economic of Nigeria’s Kidnap Industry,” released by SBM Intelligence, an Africa-focused geopolitical research, and strategic communications consulting firm, said bandits demanded N6.5billion ransom in exchange for the release of captives during the period.

It, however, added that a fraction of the sum (N653.7million) was actually paid as ransom.

“These figures are particularly important because of the rising poverty levels in the country. In 2020, Nigerians spent 62 percent of their income on food, leaving very little for disposable income and nondiscretionary spending,” the report stated.

The report added that over the last few years, Nigerians have become even poorer following how much they have had to part with for their loved ones.

However, the agency did not include the ransom paid for passengers abducted in the March 28 attack on the Abuja-Kaduna train as most of the victims were released in July.

“It was reported on July 25, that eight Nigerian hostages parted with N100 million each, while a Pakistani hostage paid N200 million,” it added.

For more than a decade, Nigeria’s numerous internal security crises such as kidnappings and violent crimes have intensified, affecting growth of the economy, particularly agriculture.

Analysts at SBM said the abductions, which are also almost evenly distributed across the country, have an impact on the Nigerian economy with business grounded in the worst hit areas.

“This ranges from travel to starting new businesses and attracting investments. On one hand, abductions in different regions can be linked to specific groups, either for ideological reasons, to extract concessions or for ransoms,” they stated in the report.

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